Caretrust REIT (CTRE) Sets New 52-Week High at $25.54

Shares of Caretrust REIT Inc (NASDAQ:CTRE) hit a new 52-week high during trading on Thursday . The stock traded as high as $25.54 and last traded at $25.25, with a volume of 40471 shares trading hands. The stock had previously closed at $25.23.

Several brokerages have commented on CTRE. Zacks Investment Research upgraded shares of Caretrust REIT from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. BidaskClub upgraded shares of Caretrust REIT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus set a $26.00 price objective on shares of Caretrust REIT and gave the company a “buy” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.57.

The company has a current ratio of 15.94, a quick ratio of 15.94 and a debt-to-equity ratio of 0.84. The company has a market cap of $2.41 billion, a P/E ratio of 19.73 and a beta of 0.91.

Caretrust REIT (NASDAQ:CTRE) last posted its earnings results on Tuesday, May 7th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.14). Caretrust REIT had a net margin of 37.46% and a return on equity of 8.08%. The firm had revenue of $39.66 million during the quarter, compared to analyst estimates of $40.79 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts forecast that Caretrust REIT Inc will post 1.39 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Centersquare Investment Management LLC raised its position in Caretrust REIT by 11,620.8% during the first quarter. Centersquare Investment Management LLC now owns 1,726,830 shares of the real estate investment trust’s stock worth $174,000 after acquiring an additional 1,712,097 shares during the period. Copper Rock Capital Partners LLC acquired a new position in Caretrust REIT during the first quarter worth $24,926,000. BlackRock Inc. raised its position in Caretrust REIT by 6.0% during the first quarter. BlackRock Inc. now owns 16,998,314 shares of the real estate investment trust’s stock worth $398,781,000 after acquiring an additional 955,883 shares during the period. Goldman Sachs Group Inc. raised its position in Caretrust REIT by 153.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,312,403 shares of the real estate investment trust’s stock worth $30,789,000 after acquiring an additional 795,143 shares during the period. Finally, American Century Companies Inc. raised its position in Caretrust REIT by 62.6% during the fourth quarter. American Century Companies Inc. now owns 1,844,731 shares of the real estate investment trust’s stock worth $34,054,000 after acquiring an additional 710,291 shares during the period. Hedge funds and other institutional investors own 89.13% of the company’s stock.

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Caretrust REIT Company Profile (NASDAQ:CTRE)

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.

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